CSPC Pharmaceutical Group (HK:1093) has released an update.
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CSPC Pharmaceutical Group Limited has issued a profit warning, indicating a projected 16% decrease in profit for the nine months ending September 2024 compared to the previous year. The decline is primarily due to reduced revenue in its finished drugs business, impacted by significant price cuts and sales declines in its oncology and cardiovascular therapeutic areas. The company is still finalizing its quarterly results, which may differ from the preliminary figures announced.
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